USD/JPY chart on Trading View used for analysis
- USD/JPY is trading 0.13% higher on the day at 110.76 at around 0830 GMT.
- The major is extending marginal gains as JPY weighed down by the possibility of further BoJ policy easing.
- Speaking at the Japanese parliament, BoJ Governor Haruhiko Kuroda raised the possibility of further policy easing.
- Kuroda said that the central bank is ready to ramp up its stimulus if a sharp appreciating in the domestic currency hurts the economy and threatens its 2% inflation target.
- That said, nervousness ahead of the next round of US-China trade talks underpinned the Japanese Yen's relative safe-haven status, limiting upside in the pair.
- Upside is currently capped at 61.8% Fib at 110.77. Break above finds next major resistance at 110-EMA at 110.91.
- On the flipside, the pair is holding strong support at 55-EMA at 110.44. Break below will see weakness till 21-EMA at 110.09.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.


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